I completely echo your sentiments but considering SOL holds close to 20% and 69% of the stock is held by Top 20 shareholders & also now that board had given the green light, it is as good as gone.
I still cannot comprehend how the board (and the market regulators in general) allows such blatant ripping off of shares by the instos from everyday investors. An offer of $2 is probably closer to the mark - $1.55 is massively undervaluing the company in light of covid. It is also disappointing we shareholders weren't given the opportunity to participate in a stock-for-stock option as I'm sure most would have stayed on with WES.
I'm sure the deal will get over the line but if by some miracle it doesn't happen - then the board should definitely be cleaned out - there is no way they can seriously show they have acted in the best interest of shareholders.
GLTA
Ann: Revised Non-Binding Indicative Proposal from Wesfarmers, page-30
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